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This morning, the bitcoin Policy Institute (BPI) published a 53-page document report on the advantages of the United States establishing a strategic bitcoin reserve (SBR).
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In July, twitter.com/CynthiaMLummis?ref_src=twsrc%5Etfw”>@CynthiaMLummis announced the bitcoin Act, the first bill in the US Congress to propose a strategy twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin reserve.
In our most comprehensive report to date, we support the United States adopting a strategic reserve. Read the report here: https://t.co/xQJG2Ebksi pic.twitter.com/gq3yI7oJUO
– bitcoin Policy Institute (@btcpolicyorg) twitter.com/btcpolicyorg/status/1853463324886786103?ref_src=twsrc%5Etfw”>November 4, 2024
The report's authors mentioned four key benefits of holding bitcoin as a strategic reserve asset:
- Economic and monetary stability — bitcoin is a hedge against currency debasement and debt instability
- Geopolitical competition — The United States could gain a strategic advantage over other countries contemplating starting a bitcoin reserve and may bolster U.S. influence over global financial standards.
- Energy and climate —bitcoin mining can be leveraged to accelerate the move toward renewable energy.
- Financial inclusion and human rights — The United States can promote both the concepts of individual freedom and financial inclusion for both American citizens and those abroad.
While I agree that the establishment of an SBR by the United States would have these benefits, I also believe it would send a message loud and clear: we embrace change in the United States.
We can tell the world that we are aware of the many positive attributes of bitcoin and that we want to use them to our advantage.
By doing so, we can change the narrative around bitcoin from something to be feared and controlled to something to be embraced and used, and we can support a tool that can be used to increase the financial dynamism of both people and institutions in everyone. balloon instead of getting in its way.
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